What should I check about a trucking company’s yard, shop and parking space?
Find out whether the company owns the yard or rents it, and what happens to the site after a sale. Then walk it: count the parking spots against the fleet, check the shop bays, drainage, access for long vehicles and room to add trucks. Ask what the neighbours and the landlord think.
Start with who holds the property. If the company owns it, ask your lawyer how it is included in the purchase. If it rents, read the lease for the term left, renewal rights, who pays for repairs and whether the landlord must agree to a new tenant. A yard on short terms can put the whole business at risk.
Then walk the site. Compare the parking available to the fleet and to any growth you expect. Check how trucks enter and leave, how tight the turns are and how the yard handles snow, mud and drainage. Look at lighting, fencing and how fuel and waste are stored. In the shop, check bay height and length, lifts, tools, ventilation and storage, and ask what upkeep has been put off. Ask about environmental history of the property, and have an advisor help.
Finally, ask about the neighbourhood. Have neighbours complained about noise, idling or truck traffic? Are the site’s uses recognized by the municipality, and could that change? Ask whether a move would be possible and what it would cost in time and customers. A good yard is easy to take for granted until it is gone.
Key takeaways
- Confirm who owns the site and read the lease if it is rented.
- Walk the yard for parking, turning room, drainage and security.
- Ask about complaints from neighbours and the site’s history.
- Ask what a move would cost if the site were lost.
Related reading
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 03Business Development Bank of CanadaGovernment13 terms you need to understand before signing your commercial real estate lease
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